March U.S. manufacturing technology consumption totaled $544.62 million, according to the American Machine Tool Distributors’Association, and the Association For Manufacturing Technology.
This total, as reported by companies participating in the USMTC program, was up 84.4 percent from February, and up 36.1 percent from the total of $400.19 million reported for March 2007.
With a year-to-date total of $1,183.75 million, 2008 is up 16.4 percent compared with 2007.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
The March consumption numbers, as well as the first quarter as a whole, clearly demonstrate that the investment incentive stimulus package along with the weak dollar are helping metalworking manufacturing to counteract the weaknesses in the other sectors of the economy,” said Peter Borden, AMTDA president.
“We’re pleased that the surcharges on fuel and other items have not affected decision makers’appetites for capital goods. It’s noteworthy that all areas of the country had substantial gains; and this makes us cautiously optimistic for the balance of the year.”
The U.S. Manufacturing Technology Consumption (USMTC) report, jointly compiled by the two trade associations representing the production and distribution of manufacturing technology, provides regional and national U.S. consumption data of domestic and imported machine tools and related equipment.
Analysis of manufacturing technology consumption provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.
U.S. manufacturing technology consumption is also reported on a regional basis for five geographic breakdowns of the United States.
Northeast Region manufacturing technology consumption in March rose to $71.34 million, 57.3% higher than February’s $45.37 million, and 19.1% higher than the March 2007 total. At $175.13 million year-to-date, 2008 is up 8.8% when compared with 2007 at the same time.
March manufacturing technology consumption in the Southern Region totaled $67.44 million, up 67.8% when compared with February’s $40.19 million, and 40.5% higher than the March total a year ago. Compared with 2007 at the same time, the year-to-date total of $166.90 million is up 37.7%.
With a March total of $223.29 million, Midwestern Region manufacturing technology consumption was up 201.9% from February’s $73.96 million, and up 85.5% when compared with March 2007. The $431.25 million year-to-date total is 53.3% higher than the 2007 total at the same time.
Central Region manufacturing technology consumption rose to $116.83 million in March, 21.9% higher than February’s $95.88 million, and 8.5% higher than the tally in March 2007. The year-to-date total of $267.57 million is 6.9% less than the comparable figure in 2007.
At $65.71 million, March manufacturing technology consumption in the Western Region was up 64.3% when compared with February’s $39.99 million, and 2.3% higher than the March 2007 total. Compared with 2007 at the same time, the year-to-date total of $142.91 million is down 14.0%.